Global Partners (NYSE:GLP) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Global Partners (NYSE:GLP) from a hold rating to a strong-buy rating in a report published on Monday,Zacks reports.

Other analysts have also recently issued research reports about the company. Weiss Ratings cut Global Partners from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Wall Street Zen downgraded Global Partners from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Global Partners currently has an average rating of “Buy” and a consensus price target of $46.00.

Global Partners Stock Up 3.2%

Global Partners stock opened at $42.79 on Monday. The firm has a 50 day simple moving average of $48.52 and a 200 day simple moving average of $47.94. The company has a current ratio of 1.09, a quick ratio of 0.71 and a debt-to-equity ratio of 2.29. Global Partners has a 1-year low of $39.58 and a 1-year high of $54.29. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 7.77 and a beta of 1.10.

Global Partners (NYSE:GLP) last posted its earnings results on Friday, November 6th. The energy company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.35). The company had revenue of $6.68 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Global Partners had a return on equity of 33.44% and a net margin of 0.93%. On average, analysts predict that Global Partners will post 6.02 earnings per share for the current year.

Global Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 9th will be paid a $0.7850 dividend. The ex-dividend date is Monday, November 9th. This represents a $3.14 annualized dividend and a yield of 7.3%. This is a boost from Global Partners’s previous quarterly dividend of $0.78. Global Partners’s dividend payout ratio is currently 56.99%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GLP. First Trust Advisors LP increased its holdings in shares of Global Partners by 0.8% in the first quarter. First Trust Advisors LP now owns 55,496 shares of the energy company’s stock worth $2,336,000 after purchasing an additional 463 shares during the period. Arrow Investment Advisors LLC boosted its stake in Global Partners by 23.9% during the third quarter. Arrow Investment Advisors LLC now owns 5,465 shares of the energy company’s stock valued at $253,000 after buying an additional 1,055 shares during the period. Cetera Investment Advisers boosted its stake in Global Partners by 2.5% during the first quarter. Cetera Investment Advisers now owns 54,743 shares of the energy company’s stock valued at $2,305,000 after buying an additional 1,337 shares during the period. Compass Wealth Management LLC purchased a new position in Global Partners during the third quarter worth about $93,000. Finally, Infrastructure Capital Advisors LLC grew its position in Global Partners by 2.3% during the first quarter. Infrastructure Capital Advisors LLC now owns 110,208 shares of the energy company’s stock worth $4,640,000 after buying an additional 2,527 shares in the last quarter. 38.12% of the stock is owned by institutional investors.

Global Partners Company Profile

Global Partners LP is an energy company that purchases, stores, transports and markets petroleum products and renewable fuels. Its products include gasoline, diesel and other distillates, residual fuel oil, and biofuels. The company operates an integrated network of fuel terminals, storage facilities and transportation assets, including pipelines and marine and truck transport capabilities. It also owns and operates gas stations and convenience stores, primarily in the northeastern United States.